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there seems to be progress still no fiscal cliff deal in washington. house speaker john boehner said he has a backup plan. but that's not enough for one in three americans who according to a new survey are cutting back on spending due to fears of going over that cliff. nbc's tracie potts joins us now with more. good morning. >> reporter: mara, good morning. good morning, everyone. there is brand new evidence in that survey that americans are really feeling the squeeze before we've even gone over the cliff, plus republicans are changing their strategy. republicans are planning a vote as early as tomorrow to keep taxes low for everyone making up $1 million. >> going to have to go to plan "b." because we want to make sure we do not go off the cliff. >> everyone should understand boehner's proposal will not pass the senate. >> reporter: president obama offered a lower threshold, 400,000. >> the president has come halfway. he hopes that the republicans will do the same. >> reporter: republicans see this million dollar vote as a last-ditchest to save business o ditch effort to save business owner
. >> president owe pa ma returns to washington today with five days to avoid the fiscal cliff. >> all eyes will be on the senate after house republicans said it's up to senate leadership to reach a deal. >>> starbucks is urging action asking baristas in his washington, d.c., cafes to write the word "come together" on the cups. >> a new york newspaper facing backlash after it published the names and addresses of local gun owners. >>> a busy shanghai shopping center a shark tank exploded. >>> the windy city of chicago will sport america's most expensive parking meters. >> what do you think about that? >> too much. >> all that -- >> smith catches, shoots puts it up, puts it in at the buzzer! j.r. smith with another game winner! >>> what is your favorite app? >> scrabble. >> sometimes i want to yank that out of your hands. >> and all that matters. >> an endangered thin backed whale watched up on the breezy point section of queens. >> on "cbs this morning." >> i know he's smiling but that medal hanging around his neck there's a 40% chance he'll hang himself with it. captionin
now before the end of the year. the president returned to washington from hawaii. can he lead both parties to a fiscal cliff work around. democrats have been dragging feet on this for months. they don't want to be pressured into a bad deal that doesn't come down to the nation books. >> any time you announce a meeting publicly in washington it's usually for political purposes. nothing good ever comes from it. one thing you have to do with politics if the president meets with a foreign leader you want to make sewer you know what is happening at the meeting. if the president calls congressional leader to the white house it's all political theater or they have a deal. my bet it's all political theater. >> they blame house republicans since john boehner hasn't been able to get them a deal to raise taxes. the name calling is getting ugly. >> american people don't understand the house of representative is operating without the house of representatives. it is being operated with a dictatorship of the speaker not allowing the vast majority of the council to representatives to get what they
stocking. higher taxes, lawmakers and president obama have left washington for christmas with no deal on tax hikes and spending cuts set to go in effect after the first of the year. brianna keilar is live in hawaii where the president is spending the christmas holiday. brianna, the president maybe a little too optimistic that a deal can be reached? aloha, by the way. >> he did say last night that he is a hopeless optimist that something can get done, but what we know, it's not going to be that big package, obviously of deficit reduction as well as dealing with these tax hikes that are set to kick in. that's not what's going to be happening, instead, he's pressing for something smaller just to a deal with stopping those tax hikes from kicking in for americans making $250,000 per year or less. and also trying to make sure that unemployment benefits are extended. listen to what president obama said last night and also listen to what some of the house republican resistance from speaker boehner to his sort of short-term plan here. >> in the next few days, i've asked leaders of congress to
, windy in new york city and long island, washington, detroit, memphis and out west san francisco with a different storm system impacting that region. right now moving forward you can see heavy bands of snow throughout indiana and illinois, sliding to the east and we have severe weather breaking out, i've been tracking the thunderstorms all morning long and they are strong and intense across parts of the chair lie in as. notice the red and the green that indicates higher cloud tops, we're getting intensity and rain and it's that part of the country we're watching out for severe weather. we may see tornadoes break out. today we're looking at heavy snow across illinois, indiana and ohio, it could be a foot or more moving forward and two areas of pennsylvania and new england tomorrow. this storm is not over yet. >> all right, bonnie, thanks so much. >>> now we turn to the bizarre and trangic shooting in upstate new york on christmas eve. two firefighters were shot and killed after responding to a call that a house was on fire and this morning we're learning more about the shooter, hi
. the president is cutting his vacation short to face the fiscal cliff. is he leaving hawaii for washington tonight. if lawmakers don't come up with a deal before the deadline your tax refund could be delayed by months. we are live in the washington bureau to explain more. >> reporter: brian the irs said without a deal as many as 100 million taxpayers may be forced to wait until march to file their tax returns. congress has to vote on the wealth tax and it needs to be adjusted for inflation. both partisay they would agree to it but it's all tied up in the fiscal cliff mess. tax filing season starts next week but the irs would put a hold on that for some. officials would wait for a deal in the new year instead of doing serious reprogramming to their tax system. filing would then be pushed back to march for millions. with refunds coming much later than usual. especially for those who plan on paying off credit card bills that often pile up after the holidays. now all of this could be avoided a deal before the deadline monday night but some long time lawmakers fear it won't happen, more on that
of some budget economists. i think there would be comfort in washington around 3% of gdp. getting there is a big challenge. there are problems with medicare and social security. they are facing big deficit situations. host: what motivates the creation of deductions? what about the other incentives? mortgage deduction it to encourage people to buy a home. guest: some of the deductions have been around forever, since the invention of the income tax. there has always been a deduction for interest that you paid. the government didn't think it could distinguish between mortgage interest and other kinds of interest. less interest is deductible now. some of the things are left over from the early days of the tax code. there is no magic about allowing people to deduct mortgage interest and not the interest they pay on their credit cards. some of these things are hard to explain. host: does it incentivize home buying? guest: it does provide some if incentive for buying a home and is a large tax break and gives them an enormous benefits. it mostly provides an incentive for buying a bigger h
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caucuses. >> game on. >> reporter: kicked off a battle for the republican nomination that few in washington had expected. the gop's odds on favorite, mitt romney stumbled in some of the early contests. he refused to release his tax returns allowing newt gingrich to take south carolina. >> we proved here in south carolina that people of power beats big money. >> reporter: but that big money eventually cleared the field and romney set his sights on the president. >> it's still about the economy and we're not stupid. >> reporter: at number nine, bain. not that one. that one. almost as soon as romney had had locked up the nomination, his former private investment capital was crashed by the super pac and obama campaign. the attack ads put romney on defense for months. the president also got a lip fr lift from the supreme court. romney vowed to strike it down himself. >> i'm not one that's going to get rid of obama care. >> reporter: at number seven, gas. >> governor romney, do you feel that your gas has overshadowed your foreign trips? >> reporter: or in romney's case, his entire foreign trip wh
. >>> also this half hour, it is down to the wire in washington, d.c. yes, the fiscal cliff now just four days away. can a last-ditch meeting today really, really lead to a deal? really? >> i hope so, because i'm heading to washington tomorrow. but we're going to bring you another story. you're going to want to see this. a daycare burglary that turns into child's play. oh, man, this boils my blood. the christmas day thieves whose clowning around was all caught on tape. >> unbelievable. yeah, that was one of them riding a little kid's tricycle. >>> later on, britney spears is back. she may be saying goodbye to a $15 million reality tv paycheck. and why this may not be her only personal drama this morning. we have details coming up in "the skinny" and she's part of half of "the skinny" today. britney spears has a lot going on. >> making headlines. >>> first, though, the nation is remembering a war hero this morning. general norman schwarzkopf died yesterday after battling pneumonia. >> president obama called the retired general an american original who stood tall for his country and had a l
today. the president is pulling the plug on his trip to hawaii to tend to urgent matters in washington. with tax hikes looming in less than a week, he's scheduled to return to the white house tomorrow, just as a deadlocked congress reconvenes days ahead of the so-called fiscal cliff. you're just six days from feeling this. now, first hit is coming on january 1st when your take home pay will drop by 2% because of a scheduled hike in the social security payroll tax. that's just the start. income taxes are set to climb too. and you'll notice that when employer gets to around the adjusted withholding, the government spending cuts, those are also scheduled for january 1st and bound to slow the economy and some argue they'll weaken the military. congress has seen this coming, but an effort to limit the damage failed last week. republican house speaker john boehner could not persuade enough members of his party to let tax rates rise on incomes over a million dollars while sparing everyone else. dana bash is our senior congressional correspondent. dana, this time tomorrow, the president is sup
around, mike mcintyre. mcintyre less san jose state for colorado. the military goal is in washington d.c. a kickoff set noon. >> public safety officials in east palo alto say that emerges repairs to a levee that separated dozens of homes from the san francisco-quito creek are holding up. the creek or float on sunday night causing mandatory evacuations for seven homes. at least one home was damaged to the point of being uninhabitable. no further work has been scheduled. but the city continues to keep a close eye on the levee. >> all the rain over christmas-a down the southbound side of the upper great highway from lincoln avenue to slow boulevard. a spokesperson at the centers is the department of public works say that the rose flood because the drains cannot handle all the water, especially during a powerful storm. drivers are being forced to take the lower great highway route. the northbound side is still open. officials say that highway close about 60 times a year. it is not known when the southbound side will reopen. >> the storm also brought down a massive tree in the east bay. the
Search Results 0 to 11 of about 12